Contract Management | Managing and Automating the Contracting Process
Effective contract management has emerged as a crucial function to improve profitability, support compliance and manage risk. Yet, many hospitals continue to struggle to locate their existing contracts let alone manage them.
With no automated system for contract approval, hospitals find a wide range of contracts in place that have been approved by staff members who do not have the authority to approve contracts.
Hospitals can now get control over all contracts across departments and facilities and automate the contracting process with FastFlow.
The FastFlow Contract Management application is designed to help you overcome contract management challenges by providing full visibility into contracts and streamlining the contracting process and other administrative processes.
With support for all agreement types and reporting capabilities, FastFlow Contract Management helps organizations leverage contracts across the entire enterprise.
FastFlow is a powerful tool for contract management:
- Flexible Workflow rules support business rule based routing, ad-hoc routing, routing to groups, and group approval rules.
- Short adoption timeline with FormFast’s familiar electronic forms as an intuitive interface for workflow and data collection.
- Easy data integration from other business systems to reduce redundant data entry and minimize the opportunity for errors.
- Automatic collection of data that may otherwise be lost or trapped in paper forms. This data can produce valuable reports for analysis as well as reports and notifications of contract milestones, review dates and renewals. In addition, this data can be reused in related applications.
- Enforceable processes put in place to ensure contracts are approved through the proper channels.
- Authoritative contract repository.
- Contracts become visible with relationships to product types, service areas, vendors and facilities.
- Never let a contract lapse or automatically renew with automatic notifications of expiring contracts, review dates, and renewals.
- Shorter contract approval processes with fewer physical meetings.
- Eliminate rogue contracts that put your organization at risk.
- Greater control and information availability allows you to leverage existing contracts and assure that pricing and term agreements are met consistently.
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